The iPhone mini Would Help Apple Reach 580 Million New Customers

Were Apple to make available a less expensive iPhone, it would allow the company to reach 580 million potential consumers. These users represent 65 percent of the smartphone market, according to AppleInsider.
Gene Munster of Piper Jaffray is out with his initial take on the so-called iPhone mini. The technology analyst believes that the device would not only prove successful, but also not hurt Apple’s profit margins.
He believes a low-cost iPhone would generate $6.5 billion in revenue for Apple in 2013 alone. He expects Apple to charge $199 for the phone, which will be geared towards emerging markets such as China.
Says Munster:

We believe the opportunity for Apple is too large to miss, as the low end market is growing significantly faster than the high end smartphone market.